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SECURITIES FRAUD, OFFICER AND DIRECTOR BARS, AND THE "UNFITNESS" INQUIRY AFTER SARBANES-OXLEY

VIEWS: 3 PAGES: 30

This article examines the federal courts' inconsistent and problematic interpretations of the officer and director bar statutes and proposes a solution that satisfies Congress's intent and that is fair both to the Securities and Exchange Commission and to the defendants in enforcement proceedings. Part I reviews the history of the officer and director bar as a remedy for securities fraud violations. Part II categorizes and discusses the various approaches that federal courts have taken in interpreting and applying the officer and director bar after Congress amended the bar statutes in Sarbanes-Oxley Act of 2002. Part III draws from the history of the officer and director bar, including the events leading up to the passage of Sarbanes-Oxley, to propose a solution that is consistent with the legislative purpose of the amended statutes and the past seventy years of securities enforcement.

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									SECURITIES FRAUD, OFFICER AND DIRECTOR BARS, AND THE "UNFITNESS" IN
Jon Carlson
Fordham Journal of Corporate
								
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